Heron Therapeutics (NASDAQ:HRTX) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX - Free Report) in a research note released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $4.00 price objective on the biotechnology company's stock.

Separately, StockNews.com downgraded shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, January 29th.

Heron Therapeutics Stock Performance

HRTX stock traded up $0.31 during midday trading on Friday, reaching $2.55. The stock had a trading volume of 2,692,158 shares, compared to its average volume of 1,805,542. The firm has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $1.71. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The stock has a market cap of $387.84 million, a PE ratio of -14.17 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.05. The firm had revenue of $40.78 million during the quarter, compared to analysts' expectations of $37.37 million. On average, sell-side analysts predict that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

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Institutional Investors Weigh In On Heron Therapeutics

Hedge funds have recently bought and sold shares of the stock. Nicolet Advisory Services LLC purchased a new stake in Heron Therapeutics during the fourth quarter worth $25,000. Argent Advisors Inc. purchased a new position in Heron Therapeutics during the fourth quarter worth approximately $31,000. Focus Partners Wealth acquired a new stake in Heron Therapeutics in the fourth quarter valued at approximately $31,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heron Therapeutics in the third quarter valued at approximately $39,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Heron Therapeutics in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 80.01% of the company's stock.

About Heron Therapeutics

Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.